Xu Jiayin: Biography, Career, and Business Insights

Xu Jiayin’s Profile Summary

Company	Evergrande
Position	Founder and former chairman of China Evergrande Group, one of the largest real estate developers in China.
Source of wealth	Xu Jiayin's wealth primarily stemmed from his role in founding and expanding Evergrande Group, alongside real estate sales, property development, and various investments related to the real estate sector.
Also known as	Entrepreneur, philanthropist, and art collector.
Age	67
Education	Wuhan University - Bachelor's degree in Economics.
Citizenship	Chinese
Residence	Guangzhou, China
Family	Xu Jiayin's immediate family includes his ex-wife, Ding Yumei, and their two sons, Peter Xu and another son whose name is not widely publicized. Following a divorce last year, Ding Yumei has been involved in legal disputes concerning financial matters related to their sons
Website, Social Media	https://www.evergrande.com/

Biography

Xu Jiayin (also known as Hui Ka Yan), born on October 9, 1960, in Tangshan, Hebei province, China, rose from modest beginnings to become one of China's most prominent and controversial business figures. After earning a degree in metallurgy from Wuhan University of Science and Technology in 1982, he began his career at Wuyang Iron and Steel Company, where he quickly climbed the corporate ladder.

In 1997, Xu founded Evergrande Group, which soon became one of China’s largest and most aggressive real estate developers. Under his leadership, the company expanded rapidly, fueled by heavy borrowing and a highly leveraged business model. By 2017, Xu Jiayin’s personal fortune peaked at an estimated $45.3 billion, placing him among the richest individuals in China and earning him global recognition.

However, this meteoric rise was followed by an equally dramatic fall. Starting in 2021, China’s tightening of real estate financing regulations exposed Evergrande’s overextension, leading to defaults on debt and triggering widespread financial turmoil. The company’s debt crisis became a symbol of systemic risk in China's property sector.

In September 2023, Xu was placed under police surveillance amid an investigation into alleged illegal financial practices related to the company’s fundraising and asset management. In March 2024, he was officially banned from the securities market by Chinese regulators and fined for committing financial fraud.

As of 2025, Xu Jiayin remains under investigation, and his public activities have ceased. He has not held any executive role since Evergrande's restructuring began. Evergrande itself faces ongoing bankruptcy and liquidation proceedings, with massive implications for creditors, homeowners, and the broader Chinese economy.

As of 2025, he remains under investigation, has ceased public activities, and has held no executive role since 2023.

How did Xu Jiayin make money?

Xu Jiayin makes money in the following areas:

Xu Jiayin's wealth primarily stemmed from his role in founding and expanding Evergrande Group, alongside real estate sales, property development, and various investments related to the real estate sector.

What is Xu Jiayin also known as?

Entrepreneur: Founder and chairman of Evergrande Group, one of China’s largest real estate companies. Philanthropist: Actively involved in charitable causes, focusing on education and poverty alleviation. Art Collector: An avid art enthusiast with a significant collection of artworks from various artists

Prominent achievements

Xu Jiayin's notable achievements include founding China Evergrande Group, which became one of the largest property developers in China, boasting a peak market capitalization of approximately $300 billion. He was recognized in 2017 as one of Forbes' World’s Billionaires and has held the title of the richest person in China at various points. His company significantly contributed to urban development, building numerous residential and commercial properties across China

At its peak, Evergrande reached a market capitalization of about $300 billion.

What are Xu Jiayin’s key insights?

Xu Jiayin's business philosophy emphasizes aggressive growth and expansion, driven by leveraging financial instruments and maintaining close relationships with government entities. He believes in the potential of real estate to stimulate economic growth and focuses on delivering large-scale projects to meet urbanization demands in China. His approach has often involved taking significant risks, which has been both a source of his success and a factor in his company's current financial struggles

Personal life

Ding Yumei: Ex-wife, involved in a lawsuit against their son over a substantial loan. Peter Xu: The elder son, previously served as chairman of Evergrande’s branch in the Pearl River Delta. Other Son: Details are limited on Xu's younger son, but he is also part of the family unit facing financial challenges due to the company's troubles

Useful insights

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